Desmond stumps up $50 million for diamond firm
Mountain Province, the businessman’s struggling diamond mine company, is in ‘serious financial difficulty’, directors confirm, due to Covid-19-related market closure
Last week, Dermot Desmond had to put his hand in his pocket to help out Mountain Province, his struggling diamond mine company. According to stock exchange filings, the billionaire businessman stumped up $50 million through a Bahamas-based company called Dunebridge Worldwide.
The circumstances were pressing, Mountain Province revealed in a press release. Its directors “unanimously found that that the company is in serious financial difficulty”.
That’s probably not surprising. The Covid-19 lockdown has shut...
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